Our client is a vertically integrated Canadian real estate developer and investment manager based in the Greater Toronto Area. With an established track record across Canadian markets, our client develops, builds, and manages institutional-quality multi-unit residential communities, with a current focus on affordable rental development at scale. The platform brings development, construction, and property management capabilities together under one roof.

Our client is seeking an Associate to join its Investments team, with end-to-end responsibility for underwriting, structuring, and execution across acquisition and development activities. Reporting to the VP of Investments, the Associate will lead financial modeling and due diligence on new opportunities, contribute to investment decisions through the Investment Committee, and support senior leadership on capital formation and lender relationships.

This role is designed for a candidate who can take full ownership of the underwriting function and bring rigor, intellectual curiosity, commercial judgment, and a strong sense of accountability to every transaction.

What You'll Do Lead financial modeling and underwriting for acquisitions, ground-up development, and value-add multifamily across the GTA Lead underwriting on new opportunities — sources & uses, development budgets, lease-up assumptions, debt sizing, waterfall structures, and LP/GP returns — and present recommendations to the Investment Committee Manage the deal pipeline and lead preliminary investment screens to filter opportunities before full underwriting Lead third-party due diligence and project reporting workstreams — including appraisals, cost consultant reports, first draw reports, and market studies — through closing and into construction Structure and model joint venture waterfalls, promote structures, and partner economics, working alongside legal counsel on key deal documents Own monthly cost-to-date (CTD) and cost-to-complete (CTC) model updates across the active development portfolio, partnering with construction and project management teams to validate actuals, reforecast remaining spend, and flag variances to budget Partner with senior leadership on capital raising and LP fundraising, producing model outputs, return scenarios, track records, and analytical content for PPMs, teasers, IC decks, and DDQ responses; participate in LP meetings as required Lead debt raising and financing workstreams, including construction loan sizing, refinancing analysis, lender models, covenant testing, and term sheet negotiation support across senior, mezzanine, and CMHC-insured structures Run sensitivity and scenario analyses to stress-test investment theses Author Investment Committee memos and present transactions to IC; contribute to LP reporting, fundraising materials, and ODD responses Conduct market research and comparable analysis across our active jurisdictions Partner with development, construction, and property management teams to validate inputs and ground-truth assumptions Contribute to the development of the firm's underwriting standards and templates

What We're Looking For 3–6 years of experience in real estate private equity, real estate development, or real estate investment banking, with direct exposure to ground-up development underwriting Development underwriting and modeling experience is required; multifamily experience strongly preferred Hands-on experience with CTD/CTC reforecasting and development cost tracking is a strong asset Advanced Excel and financial modeling skills — you can build a model from a blank sheet, not just plug into a template MBA from a recognized program required CAIA and/or CFA designation preferred Bachelor's degree in finance, real estate, economics, or related field Demonstrated ability to leverage AI tools and embed AI into modeling and analytical workflows to drive productivity is required Demonstrated ability to lead transactions independently and present to senior leadership and external stakeholders, including LPs, lenders, and JV partners A genuine self-starter who identifies issues independently, drives them to resolution, and does not require direction to move work forward A track record of forming and defending a point of view — we expect the Associate to bring recommendations to the table, not just outputs, and to back them with sound analysis Demonstrated ownership mentality — treats the underwriting function as their own and consistently goes beyond the brief to pressure-test assumptions and improve the work product Comfortable operating with limited oversight in a team environment, working cross-functionally across departments, and proactive in flagging risks, gaps, and opportunities to senior leadership Strong written and verbal communication — IC memos, LP communications, and lender presentations are central to the role

Why Join Our Client This is an opportunity to work directly with senior leadership on a platform focused on one of the most important investment themes in North America: affordable rental housing at scale. The role offers genuine deal ownership, direct exposure to institutional capital partners and lenders, and a clear development path for a high-performing candidate.

Our client offers learning and development reimbursement, competitive paid time off, market-aligned compensation, an employee home ownership program, comprehensive benefits coverage, and flexible health, lifestyle, and wellness spending accounts.

$95,000 - $120,000 a year

The salary offered will reflect the successful candidate's experience, qualifications, and professional designations.